Post Capital Partners Announces the Sale of BHS Specialty Chemicals to DuBois Chemicals
July 17 2017 - 9:09AM
Business Wire
Second successful exit for Post Capital in just
over six months
Post Capital Partners today announced the sale of BHS Specialty
Chemicals, a specialty chemical manufacturer and distributor
focused on food safety and water treatment solutions, to DuBois
Chemicals. DuBois, a portfolio company of The Jordan Company, L.P.,
is a developer and manufacturer of specialty chemicals solutions to
the general manufacturing, pulp and paper making, transportation
cleaning, and water treatment segments. The sale was completed on
June 30, 2017. This is Post Capital’s second exit in just over six
months, following the recapitalization of Invo HealthCare
Associates in December 2016.
Post Capital Partners recapitalized BHS Specialty Chemicals
(formerly BHS Marketing) in July 2010 in partnership with chemical
industry veteran Phil Johnson and BHS’ founders, Bruce Schechinger
and Michael Merlo. Mr. Johnson became Chairman and CEO of BHS under
Post Capital’s “Executive-First” strategy, in which it partners
with senior industry executives in sourcing, evaluating, acquiring
and then leading portfolio companies.
Michael Pfeffer, Co-founder and Managing Director of Post
Capital, said, “We are proud of our partnership with BHS and its
management team. Phil executed on his vision of transforming BHS
from primarily a commodity distribution business into a leading
specialty chemical company for cleaning and sanitation and water
treatment for the food processing sector.”
Mr. Johnson added, “When I first met Post Capital, I had a
vision for the specialty chemical industry and an overwhelming
desire to be both a CEO and owner and not just a ‘hired gun.’ Post
Capital believed in me and provided the resources to help identify
and acquire BHS. After the recapitalization, Post Capital provided
the financial support and strategic guidance to help management
execute on the plan and to transform the business, including the
execution of three accretive add-on acquisitions.”
“The success of BHS is a great illustration of Post Capital’s
‘Executive-First’ strategy,” Mr. Pfeffer added. “Our investment
team identified a talented executive in Phil and then worked with
him on a proactive acquisition program to identify a compelling
investment opportunity. Once we identified BHS, we partnered with
Phil and BHS’ founders, Bruce and Michael, to transform the company
into a leading player in its market. We are pleased with the
success of BHS and wish the company and its team continued success
in the future.”
Greentech Capital Advisors served as financial advisor to BHS on
the transaction. Winston & Strawn and Benesch Friedlander
Coplan & Aronoff acted as legal advisors and Crowe Horwath
provided accounting and tax advice to BHS.
About BHS Specialty Chemicals
BHS Specialty Chemicals offers a complete spectrum of products
and services to satisfy the chemical requirements of food
manufacturers and other industries. An SQF 2000 Level II Certified
Company, BHS provides chemicals approved and controlled for use in
food manufacturing plants. Since 1998 the company has grown to
become a prominent member of the chemical supplier industry. To
learn more, visit http://www.BHSspecialtychemicals.com.
About Post Capital Partners
Post Capital Partners (http://www.postcp.com) is a private
investment firm that makes both minority growth and control
investments in businesses with repeat or recurring revenue models.
Post Capital primarily employs an "Executive-First" deal sourcing
and investment strategy in which it first identifies and partners
with talented senior operating executives and then works
proactively with those "Executive Partners" to identify
investments. In addition to "Executive-First" platform searches,
Post Capital also pursues management buyouts and growth capital
investments. Based in New York City, Post Capital invests a
committed capital fund with top-tier institutional and
sophisticated private investors.
About DuBois Chemicals
Founded in 1920, DuBois provides specialty chemical solutions
and services for manufacturing and transportation industries in
North America, and is expanding into selected market sectors around
the world. The company is committed to building sustainable
partnerships with customers that reduce total costs through the
delivery of innovative solutions supported with local technical
service. DuBois specializes in the areas of metal finishing, paint
pretreatment, metalworking fluids, lubricants, heattreating salts,
quenchants, water and wastewater treatment, maintenance and
equipment cleaning, food processing cleaning and sanitizing,
transportation cleaning, and papermaking chemicals. For more
information, please visit www.duboischemicals.com.
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